Accounts Settled: a Review

In the book, Accounts Settled, there is only one major character named Gordon. Gordon is seventeen, six feet tall, and has the beginning of a beard. The main setting is in a forest-filled valley that is a mile from Gordon's home. The story does not give a specific date but the most logical time this story takes place is in the winter during the early 1900s.

The inciting incident in the story is when Gordon's dad came down with flu-pneumonia and Gordon must take his place in taking care of the trapline that he had set up in the forest. The conflict of the story is internal and external because Gordon had to face himself and nature. The rising action started when Gordon had a sense of fear as he went into the valley. The, the porcupine stole his food and Gordon was going to kill it but remembered an old woodsman tale that it's bad luck to ill a porcupine. Gordon then goes to bed, hungry and it took him awhile to fall asleep. He later wakes up to find a cougar ready to pounce on him. The cougar dose not strike yet because it is waiting for Gordon to move. Gordon knows better and stayed in the same position for what seemed like hours. Suddenly, the porcupine returns to look for more food and this disrupts the cougar. The climax is when Gordon quickly reaches for his gun and shoots the cougar. The resolution is when Gordon "cries the final tears of his boyhood" and he is finally a man.

This writer used suspense in his story many times. For instance, "his eyes held the boy unwinkingly as he waited in the fiendish way of cats for the moment when the man must stir, or make an attempt to escape, the moment when his ingrained fear of man would be swallowed up by the rising tide of his blood- lust" and "moments passed, horrible heart-thudding moments, during which neither man nor animal stirred". Another method that the writer uses is foreshadowing. For instance, "he wouldn't have minded tending the old...

You May Also Find These Documents Helpful

...assets are intended for consumption of sale realised during a year
Current assets is used for trading or transactions
Current assest have direct results of the profit gained in the business such as bank balance
Non-current assets are used for a longer duration (12 months)
Non-current assets used for productive investment purposes
Has very low impact of the profit gained as it only deals with things like machinery
6. the accumulated profit is also known as the retained earnings, retained profit and unappropriated profit. what is the accumulated profit and why do accountants and bookkeepers use different names for the same thing? (6 marks)
Accumulated profits is profits that are not paid as dividend but is transfered over to the accounts for the next year. Also can be used to reinvest in the core of the business to help pay off debts or to purchase a capital asset.
The reasons why accountants and bookkeepers use different names for the same thing is because bookkeepers are the people who record the financial transactions in a business in the form, of journals otherwise known as books, these transactions include receipts, slaes and payments made by the organisation. Bookkeepers are not certified accountants so they will use the term retained profits as this can easily mean profits you have retained over a period of time whereas an accountant is someone who keeps, audit and financial records of a individual or a business and prepares financial and...

...practice in business.
This may be on account of a number of reasons like defects in goods, quality not matching the requirement for which the buyer purchased it, the buyer not needing the stock, etc.
This happens both in case of goods purchased as well as goods sold by the organisation.
Where the goods sold are being returned we call it "Sales Returns" and where goods purchased are being returned we call it "Purchase Returns"
The transactions of return of goods are also accounting transactions and have to be recorded in the books of accounts just like any other accounting transaction.
oPurchase Returns
Considering a transaction of credit purchases, the two elements effected would be the Purchases a/c and the Vendor a/c. Purchase of stock, being an expenditure, the Purchases a/c is debited and the Vendor being the benefit giver the Vendor a/c is credited.
Therefore in recording a transaction of Purchase Returns, the Vendor a/c is debited and the Purchases a/c is credited.
o Sales Returns
Considering a transaction of credit sales, the two elements effected would be the Sales a/c and the Buyer a/c. Sale of stock, being an income, the Sales a/c is credited and the Buyer being the benefit receiver the Buyer a/c is debited.
Therefore in recording a transaction of Sales Return, the Buyer a/c is credited and the Sales a/c is debited.
3 GOLDEN RULES OF ACCOUNTANCY
(1) Debit What comes in & credit what goes out [Real...

...the next step is to post the journal entries into account. Ledger Account also known as “T” Account and Account. Ledger accounts categorize these changes or debits and credits into specific accounts, so management can have useful information for budgeting and performance purposes. (http://www.myaccountingcourse.com/accounting-cycle/t-accounts). Beside there have 3 types of ledgers there is general ledger, sales ledger and purchases ledger. General ledger is the account that generalize all the business transactions. Sales ledger contain all the individual trace receivables accounts while purchases ledger contain all individual trade payable accounts. Example of accounts is payable purchases account, sales accounts, receivable, cash account, bank account, vehicle account etc. As accounting equation, all the debit account put in the debit side and the liability and equity are put in the credit sides.(from lecture note)
The trial balances is the statement of ledger account balances within a ledger. At the end of the accounting period, the total of the debit balances appearing in the trial balance must equal to the sum of all credit balances.( http://accounting-simplified.com/trial-balance.html)
Adjustment entries...

...were made by Namikah to the business amounted to RM 150
31
Received commission revenue from Abun by cheque for RM 2,500
23
Business repay the loan made from Bank Rakyat by cheque for RM 25,000
You are required to prepare the:
a) Effects of transactions to the provided column by determining an item increase or decrease
b) Principles of double entries to the provided column by identifying it’s debit and credit
P/s: We will discuss this question when your semester break is ended and bring it along together with your answer during our class session. Please do it by yourself to test your level of understanding. Let’s honesty guides you. This individual assignment will be used for the preparation of ledgers or “T” account and trial balance. Absolutely, print it out for the hardcopy.
...

...how you would deal with the following items in the final accounts of a club: (3) Debit credit
Prize fund Prize fund Investments 1,20,000 Income from Prize fund Investments Prizes awarded 9000 Q7. 1,20,000 12000
A,B and C are partners sharing profits and losses in the ratio of 1 : 2: 3. They have omitted interest on capital @ 8% p.a. for two years ended 31st March, 2008. Their fixed capitals were Rs. 400000, Rs 600000 and Rs 800000 respectively. Pass the necessary adjusting entry. (3) Raghav limited purchased a running business from Krishna traders for a sum of Rs. 15,00,000 payble Rs 3,00,000 by cheque and for the balance issued 9% debentures of Rs. 100 each at par. (3) The assets and Liabilities consisted of the following: Rs Plant and Machinery 400000 Buildings 600000 Stock 500000 Sundry Debtors 300000 Sundry Creditors 200000 Record necessary journal entries in the books of Raghav Limited.
Q8.
Q9.
A and B are partners in a firm sharing profits in the ratio of 7:5. On April 1,2004 they admit C as a new partner for (1/6)th share. The new ratio will be 13:7:4. C contributed the following assets towards his capital and for his share of Goodwill. Stock Rs. 60000; debtors RS 80000; Land 20000; Plant and Machinery Rs 120000. On the date of admission of C, the Goodwill of the firm was valued at Rs 750000. Record necessary journal entries in the books of the firm on C’s admission and prepare C’s capital account. Copyright 2010 National...

...ACKNOWLEDGEMENT
I am Yogeswaary d/o Marathandavan from Saito College, studying Diploma in Business Information Technology. This report is regarding Business Information System subject, for this assignment I need to do survey by choose one department in an organization and carry out an investigation on the usage of information system in that department. I choose “ASIAPRIMA RESOURCES” organization for my assignment. In the organization I choose Marketing department for my research because I need to know what kind of system they use for marketing sales record and how they solve the problems face in marketing by using the particular system.
CHAPTER I
OVERVIEW OF THE ORGANIZATION AND DEPARTMENTS
ASIAPRIMA RESOURCES SDN BHD was incorporated in 1994 to trade in wood and timber related products for the local as well as overseas market. ASIAPRIMA’S trading history harks back to 1966, when their founder first began trading in commodities and subsequently in the distribution of food staff such as rice and sundry goods. Presently, the second generation proudly continues this tradition of growth and diversification with businesses in wood and timber related products such as fancy laminated plywood, wall panels, polyester flush doors, local logs, MDF, HDF and sawn timber from natural and plantation forest as well as imported sawn timber. In this organization contain of five departments, there are Human resources department, Finance/ Accounting department, Marketing...

...Why are accounts important
To begin by why accounts are important, a person should first know what accounts actually mean. Accounts are financial records of an organization that register all financial transactions, and must be kept at its principal office or place of business. The purpose of these records is to enable anyone to appraise the organization's current financial position with reasonable accuracy. Firms present their annual accounts in two main parts: the balance sheet, and the income statement (profit and loss account). The annual accounts of a registered or incorporated firm are required by law to disclose a certain amount of information. And have to be certified by an external auditor that they present a 'true and fair view' of the firm's financial affairs.
According to American accounting association, accounting has been defined as, “The process of identifying, measuring, and communicating information to permit judgment and decision by the users.” Yet another definition of American Institute of Certified Public Accountants (AICPA) is that “Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character and interpreting the results thereof.
Accounting is very much connected with our personal lives in so far as it is in respect of every...